NEW YORK, Dec. 20, 2019 (GLOBE NEWSWIRE) -- Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”), a leading partnership of independent, fiduciary wealth management firms, announced today that it has entered into a definitive agreement under which Allen Berg (“Berg”), a multi-family office and investment management services professional, will join Focus partner firm Kovitz Investment Group Partners, LLC (“Kovitz”), based in Chicago, Illinois. The transaction is expected to close in the first quarter of 2020, subject to customary closing conditions.

Berg currently works with ultra-high net worth clients and provides comprehensive family office, investment management and holistic financial planning services, with specific expertise in tax and estate planning services. Through this transaction, Kovitz will expand its services in each of these areas and increase its presence in Chicago. Berg will gain access to Kovitz’ significant investment management and operational infrastructure and extensive planning resources, further enhancing the services Berg is able to offer his clients.

“We are thrilled to have Allen and his clients join the Kovitz family,” said Mitch Kovitz, Founder and Principal of Kovitz. “Allen’s expertise in tax and estate planning, together with the family office services he provides, will enable us to expand our capabilities in each of these areas.”

“I am very excited to join the Kovitz team, as I know that having access to their deep bench of talent and robust infrastructure will enable me to better serve my clients,” said Allen Berg. “I hold the Kovitz team in high regard and have consistently been impressed by their commitment to outstanding client service.”

"We are pleased to announce that Allen Berg will be joining the Kovitz team,” said Rudy Adolf, Founder, CEO and Chairman of Focus. “This addition will allow Kovitz to expand its capabilities in the ultra-high net worth space, further differentiating the firm and consolidating its presence in the important Chicago market. Our ability to provide access to capital and extensive M&A expertise is instrumental in helping our partner firms broaden their capabilities and accelerate the growth of their businesses.”

About Focus Financial Partners Inc.

Focus Financial Partners Inc. (NASDAQ: FOCS) (“Focus”) is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while benefitting from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit www.focusfinancialpartners.com.

About Kovitz Investment GroupPartners, LLC

Kovitz Investment Group Partners, LLC (“Kovitz”) provides investment and wealth management solutions to high net worth individuals, institutions and private funds. Kovitz has been part of Focus since 2016. For more information about Kovitz, please visit https://www.kovitz.com/.

Cautionary Note Concerning Forward-Looking Statements

This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.

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